APRIL 26.] THE NEW ZEALAND GAZETTE. 1153

SECURITIES HELD BY TRUSTEES.

17. The provisions of sections twenty-two, twenty-three, and twenty-four of the
    New Zealand Debt Conversion Act, 1932-33 (relating to the adjustment of premiums as
    between capital and income and to the powers of trustees and other persons in relation
    thereto), shall apply with respect to existing securities converted into new securities in
    accordance with this Order in the same way as they apply with respect to securities con-
    verted under that Act, save that the references in the said section twenty-two to the
    first day of April, one thousand nine hundred and thirty-three, shall be construed as
    references to the day following the date of conversion.

BROKERAGE.

18. The local authority shall not, in respect of the conversion into new securities
    of any existing securities to which this Order applies, enter into any contract for the
    payment of brokerage at a rate exceeding one-quarter per centum of the amount of such
    existing securities.

FIRST SCHEDULE.

LOAN TO BE CONVERTED.

SECOND SCHEDULE.

FORMS.

(1) Notice.

[Name of local authority.]

CONVERSION under the Local Authorities Interest Reduction and Loans Conversion
Act, 1932-33, section 12 of the Local Authorities Interest Reduction and Loans Conver-
sion Amendment Act, 1934, and the Waitemata Electric-power Board Loans Conversion
Order, 1935, of debentures or other securities issued in respect of the following loan
[Particulars of loan].

Notice is hereby given to the holder of debentures or other securities issued in
respect of the above-mentioned loan that with the consent of the holder thereof the
[Name of local authority] intends to convert all such debentures or other securities into
new debentures having new maturity dates and bearing interest at 4 1/4 per cent. per
annum.

The conversion will take effect from the 1st day of September, 1935.

Consent to conversion, if given, must be made in writing on or before the 1st day of
September, 1935, and when given shall be irrevocable.

Further particulars as to the new debentures and the conversion generally may be
obtained from [Name or designation and address of at least one person authorized to give
particulars].

Dated the day of , 19 .

, Chairman.

(2) New debenture.

No. [Name of local authority], New Zealand.

New debenture, issued pursuant to Part II of the Local Authorities Interest
Reduction and Loans Conversion Act, 1932-33, section 12 of the Local Authorities
Interest Reduction and Loans Conversion Amendment Act, 1934, and the Waitemata
Electric-power Board Loans Conversion Order, 1935. New debenture for £ ,
payable at , in New Zealand, on the day of , 19 , issued by
the [Name of local authority], New Zealand, under the above-mentioned Act and Order
pursuant to a resolution passed and confirmed by the said Council [or Board, or as the case
may be] as provided by section 9 (2) of the said Act.

(N.B.—The holder of this debenture has no claim in respect thereof upon the
Government or public revenues of New Zealand.)

On presentation of this debenture at , in New Zealand, on or after the
day of , 19 , the bearer thereof will be entitled to receive £

Issued under the common seal of the
the day of , 19 .

A.B., Chairman.
[L.S.] C.D., Treasurer [or other officer appointed for the purpose].